Which Way Wednesday – Helter Skelter – Again
“When I get to the bottom I go back to the top of the slide
Where I stop and I turn and I go for a ride
Till I get to the bottom and I see you again” - Beatles
If you think you have deja vu, you are right. The title of our Wednesday post two weeks ago was “Wednesday Weakness: Controlled Descent or Helter Skelter?” and we predicted the recent movement, saying:
Just as the path of the Helter Skelter is predictable, so is the eventual unwinding of a market rally and, no matter how much QE you pump into it, things do come down eventually. Only when you build on the base are you able to raise the bottom of the slide. Otherwise, no matter how high you climb – you will see that bottom again.
And so, exactly two weeks later, we are back to the bottom of the slide and just as likely to go back to the top where we’ll stop and we’ll turn and we’ll go for another ride until we get to the bottom and we do it again – yeah, yeah, yeah!
There’s nothing wrong with a repetitive market pattern, we’re doing fantastically well getting in and out of futures plays and, as I noted that Wednesday, there are plenty of stocks we do like and we’re doing plenty of bottom-fishing along the way because, while we’re looking for a market correction in the short-term, in the long run we’re pretty bullish. Meanwhile, we’re simply looking for the same Futures bounce lines we outlined at the time to confirm a real recovery:
- Dow (/YM) 18,075 (weak) and 18,150 (strong)
Provided courtesy of Phil’s Stock World.
To read the rest of this article now, along with Phil’s live intra-day comments, live trading ideas, Phil’s market calls, additional member comments, and other members-only features – Come to the winning side at Phil’s Stock World by clicking here.
To sign-up for a free trial membership, click here.
Source: http://www.philstockworld.com/2016/10/26/which-way-wednesday-helter-skelter-again/?utm_source=beforeitsnews&utm_medium=feed&utm_campaign=psw-feeds&utm_content=article-link
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).